Sharekhan is bullish on KEC International has recommended buy rating on the stock with a target price of Rs 770 in its research report dated September 25, 2023.

After Tuesdays correction in the small and midcap space, many pharma stocks gave a good up move by forming a new all-time high on Wednesday. Ajanta Pharma gave an excellent breakout in daily and weekly timeframe but gave back gains in the second half

The Civil business of the company secured orders from new clients in the Data centre and FMCG segments, for building a data centre in Western India and setting up of manufacturing facility for a global FMCG major in Southern India.

LIC saw a decisive breakout of long falling resistance trendline adjoining highs of December 20 last year, and August 11 this year. The stock has formed a bullish candlestick pattern with long upper shadow on the daily charts with strong volumes.

The price chart of KEC International indicates a breakout from a triangular pattern on the daily timeframe, accompanied by significant trading volume.

Technically, the stock's day RSI (14) is at 50.8. The RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. MACD is at 13.4, which is above its Center Line, but below the signal line.

Brokerage house Geojit has reiterated 'Accumulate' rating on the stock with a target price of Rs 703

Marquee investor Ashish Kacholia sold part of his stake in aesthetic solutions provider SJS Enterprises for Rs 11.6 crore through the open market on Friday.

KEC International has bagged new orders worth Rs 1,007 crore, including for the construction of a multi-specialty hospital. Orders that the company has received include its civil business, transmission and distribution business and its cables business. With these orders, the company's year-to-date order intake stands at a record of over Rs 5,500 crore.

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Geojit recommended accumulate rating on KEC International with a target price of Rs 703 in its research report dated August 16, 2023.

Among the top additions for mutual funds in the small cap space were Eric Lifesciences, PVR Inox, CreditAccess Grameen, Amara Raja Batteries and Aegis Logistics

Sharekhan is bullish on KEC International has recommended buy rating on the stock with a target price of Rs 770 in its research report dated August 07, 2023.

Emkay Global Financial recommended hold rating on KEC International with a target price of Rs 635 in its research report dated August 06, 2023.

HDFC Securities recommended reduce rating on KEC International with a target price of Rs 511 in its research report dated August 04, 2023.

Prabhudas Lilladher recommended hold rating on KEC International with a target price of Rs 645 in its research report dated August 05, 2023.

The company has posted 36.5 percent jump in its consolidated profit at Rs 42.33 crore for the quarter ended June FY24 against Rs 31 crore in the same quarter last fiscal.

Stocks that were in focus include names like KEC International which pared some gains after hitting a 52-week high, Escorts Kubota also closed flat with a positive bias after hitting a fresh 52-week high and BSE pared gains and closed with a loss of nearly 1% on Wednesday.

Jyothy Labs has seen robust trading volumes in two consecutive sessions, and traded way above key moving averages (20, 50 and 200-day EMA - exponential moving average).

Net Sales are expected to increase by 20.5 percent Y-o-Y (down 27.6 percent Q-o-Q) to Rs. 3,998.3 crore, according to Nirmal Bang.

The overall trend looks positive for the Nifty50.

The Civil business has secured an order in the metals & mining segment from a reputed steel player in India.

In the Transmission & Distribution business, KEC said it has received orders for "projects in India, Middle East, Europe and the United States".

The Indian market opened with a negative bias, tracking mixed global cues. The Sensex rose nearly 300 points, while the Nifty50 closed below 19,400 levels. The India VIX slightly increased as the index is soon moving to new high territories. The maximum Call OI is placed at 19,400, and the maximum Put OI is placed at 19,300.

Aster DM Healthcare was the biggest gainer in the Nifty500 index, rising 13.5 percent to see all-time closing high of Rs 325.70. The stock has formed robust bullish candlestick pattern on the daily charts with significantly higher volumes.